To identify some of the high yielding large cap foreign stocks, I ran the screener with the following criteria:

1. Stocks must trade on the NYSE
2. Market cap must >= $5B
3. Dividend yield must be at least 7%

The above search resulted in the following 15 stocks:

1.Company: Tele Norte Leste Participacoes SA (TNE)
Current Dividend Yield: 14.53%
Sector: Telecom
Country: Brazil

2.Company: Telecomunicacoes de Sao Paulo SA (VIV)
Current Dividend Yield: 12.67%
Sector: Telecom
Country: Brazil

3.Company: Banco Santander, S.A.(SAN)
Current Dividend Yield: 12.06%
Sector: Banking
Country: Spain

4.Company: France Telecom SA (FTE)
Current Dividend Yield: 11.37%
Sector: Telecom
Country: France

5.Company: SK Telecom Co., Ltd. (SKM)
Current Dividend Yield: 9.82%
Sector: Telecom
Country: South Korea

6.Company: Nokia Corporation (NOK)
Current Dividend Yield: 9.77%
Sector: Telecom equipment
Country: Finland

7.Company: Portugal Telecom (PT)
Current Dividend Yield: 9.62%
Sector: Telecom
Country: Portugal

8.Company: Telefonica S.A. (TEF)
Current Dividend Yield: 9.15%
Sector: Telecom
Country: Spain

9.Company: PT Telekomunikasi Indonesia (TLK)
Current Dividend Yield: 8.51%
Sector: Telecom
Country: Indonesia

10.Company: YPF SA (YPF)
Current Dividend Yield: 8.17%
Sector: Oil & Gas
Country: Argentina

11.Company: National Grid plc (NGG)
Current Dividend Yield: 7.95%
Sector: Utility
Country: UK

12.Company: Banco Bilbao Vizcaya Argentaria SA (BBVA)
Current Dividend Yield: 7.60%
Sector: Banking
Country: Spain

13.Company: AstraZeneca plc (AZN)
Current Dividend Yield: 7.51%
Sector: Drugs
Country: UK

14.Company: Vodafone Group Plc (VOD)
Current Dividend Yield: 7.42%
Sector: Telecom
Country: UK

15.Company: Westpac Banking Corporation (WBK)
Current Dividend Yield: 7.24%
Sector: Banking
Country: Australia

Note: Dividend yields noted are as of June 21, 2011

The majority of the companies in the above list are in the telecom sector. Nokia’s yield is so high since its stock price fell heavily recently.

Disclosure: Long BBVA, STD